Kieran Maguire shares £54m West Ham transfer reveal amid takeover update via Sky
Official records show that West Ham owe up to £54million in outstanding transfer fees.
So says finance boffin Kieran Maguire, speaking exclusively to Football Insider about the latest developments in the Hammers’ takeover saga.
As reported by Sky Sports on 11 August, PAI Capital will not relent in their attempts to buy the club any time soon.
The consortium claimed that it provided proof of funds when the takeover approach was tabled and rejected in February.
PAI managing partner Nasib Piriyev also claims that they were given access to West Ham’s business data for two months.
And Maguire highlights that the prospective new owners would have to reckon with West Ham’s outstanding transfer costs therein.
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He told Football Insider correspondent Adam Williams: “The claims is that they have been given access to the data room.
“But that doesn’t mean they’ve done anything since February when they were in contact with the club.
“If they are serious then surely an offer would have been received and West Ham are adamant that is not the case.
“If someone had looked at my house six months ago I would assume they had lost interest.
“In any case, the data room is the internal management accounts, the list of assets owned by the club and the outstanding liabilities.
“Those outstanding liabilities are not only to the owners but also third parties, financial institutions and the like.
“West Ham have a few outstanding debts to financial institutions and to other clubs in terms of outstanding transfers.
“Their transfer liabilities were worth £111m to other clubs at the end of 2020.
“Clearly, some of those will have been settled because we’re now in August 2021. So there will be moving up and down with regards to those.
“At the 31st May 2020, they owed £56m to other clubs and that was payable within 12 months.
“Then there was a further £54m which was due after one year. So quite a lot of that will potentially be due this summer.
“So West Ham do have substantial cash outflows which I think explains why they have borrowed money over the last year or so”